“We know where the funds were sent,” Otsuka said during a late-night press conference at the Tokyo Stock Exchange. “We are tracing them and if we’re able to continue tracking, it may be possible to recover them. But it is something we are investigating at the moment."
The disappearance likely ranks among the biggest losses or thefts of investor assets since the advent of digital currencies with the launch of Bitcoin in 2009. Japan’s Financial Services Agency said in a statement it is “looking into the facts surrounding Coincheck.”